71% of Tehran’s production units lack liquidity

Economy Materials 3 March 2019 16:57 (UTC +04:00)

Tehran, Iran, March 3


Around 71 percent of production units in Tehran province has liquidity problem, Iran's Minister of Industries, Mine and Trade Reza Rahmani said.

"It's not fair that active production units close down and lay off workers due to lack of liquidity," he said, Trend reports citing IRNA.

The official noted that the major problems in production units of Tehran province relate to banks. “The National Development Fund has assigned $1.5 billion to employment and there should not be any obstacles in private sector. If the production units are not able to afford the raw material to supply goods to the market, it would lead to shortage of goods,” he added.

The official noted the necessity to review the issues of the industrial and production units. “There has been discussion in this regard with the minister to remove the obstacles."

"Issues such as poverty, lack of development in some regions and inflation are being noticed and they should be eliminated by promoting domestic production,” he said.

Rahmani said the steel production sector has the best capacity and Iran has surpassed some countries in this field and therefore, since this industry imports some of its items, it should be on the priority of the Central Bank of Iran.

"Tehran holds 17 percent of population of the country and needs special attention in the production sector," he added.